All posts tagged $4 Gas

A $4 per gallon national average gasoline price appears in the cards, as April delivery gasoline futures passed the key $3.30 per gallon level Friday.

EIA has long noted that retail prices carry a 70c/gal premium to futures prices. That’s held true over the past 12 months and since reformulated gasoline blendstock futures were introduced in October 2005.

Front-month March futures hit high on Friday of $3.1453/gal, the most since July and averaged this month at levels suggestive of $3.69/gal at the pump, vs $3.65/gal average reported by AAA.

April futures hit high of $3.319/gal, which, if sustained, suggests $4.02/gal nationwide.

National average last topped $4/gal in July 2008, but hit recent high of $3.965/gal last May.

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